Notice of Agreements Filed, 22437 [2021-08838]
Download as PDF
<![CDATA[
jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 80 / Wednesday, April 28, 2021 / Notices
the proposed amendments, giving rise to
the information collection. The
information collection is necessary to
ensure QFC contracts are amended in
compliance with the rule. The FDIC’s
rule applies to FDIC-supervised
institutions that are subsidiaries of
GSIBs and sets forth requirements
parallel to those contained in similar
rules recently published by the FRB and
the OCC with regard to entities they
supervise to ensure consistent
regulatory treatment of QFCs among the
various entities within a GSIB group.All
institutions that were covered FSIs on
January 1, 2018 were required to comply
with the QFC stay rule by January 1,
2020. That means that, except for the
three possible exceptions described
below, all required paperwork revisions
that are required to be completed by the
covered entities to comply with the rule
should have been completed by January
1, 2020. Consequently, for the purpose
of 2021 and future PRA analysis, the
FDIC does not expect any on-occasion
paperwork burden associated with the
rule. The three exceptions to the
foregoing statement are: (i) Under the
QFC stay rule, a covered FSI is not
required to bring QFCs with a
counterparty that were entered into
prior to January 1, 2019 into compliance
unless the covered FSI or any affiliate of
the covered FSI becomes party to a QFC
with the same counterparty or a
consolidated affiliate of that party on or
after January 1, 2019 (subject to special
rules relating to institutions that become
covered FSIs after January 1, 2018); (ii)
entities that become covered entities
after January 1 2018 have extended
compliance periods (which can extend
the date for compliance to the date that
is the first day of the calendar quarter
immediately following one year, 18
months or two years (depending on the
type of counterparty) from the date the
entity first became a covered entity);
and (iii) a covered FSI might enter into
a QFC with a counterparty that is not
yet covered by documentation that
complies with the rule. Moreover,
because the market practices and
conventions relating to derivatives,
repo, SFT and other QFC products have
evolved to include the stay provisions
in the documentation used by market
participants, FDIC estimates that any
legal documentation review will be
addressed as a part of the normal
business on-boarding or maintenance of
the business relations. However, FDIC
recognizes that there is a possibility of
a new entrant or a new product that can
fall under the scope of the subject rule
and, consequently, provides for a
VerDate Sep<11>2014
19:17 Apr 27, 2021
Jkt 253001
possibility of one or more respondents
that can be impacted by the rule.
As noted above, the industry
undertook major initiatives to achieve
streamlining and straight-through
processing for both on-boarding and
maintenance of the QFC records over
the last years. Consequently, in case a
new entrant/product will be scoped-in
by the subject rule to impose the
paperwork burden, FDIC estimates that
such burden will be less than half of the
burden estimated in 2018 thanks to the
automation and standardization of
business processes. Accordingly, the
time per response has been revised to 20
hours from the 40 hours previously
estimated.
Request for Comment
Comments are invited on: (a) Whether
the collection of information is
necessary for the proper performance of
the FDIC’s functions, including whether
the information has practical utility; (b)
the accuracy of the estimates of the
burden of the information collection,
including the validity of the
methodology and assumptions used; (c)
ways to enhance the quality, utility, and
clarity of the information to be
collected; and (d) ways to minimize the
burden of the collection of information
on respondents, including through the
use of automated collection techniques
or other forms of information
technology. All comments will become
a matter of public record.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on April 22,
2021.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021–08803 Filed 4–27–21; 8:45 am]
BILLING CODE P
FEDERAL MARITIME COMMISSION
Notice of Agreements Filed
The Commission hereby gives notice
of the filing of the following agreements
under the Shipping Act of 1984.
Interested parties may submit
comments, relevant information, or
documents regarding the agreements to
the Secretary by email at Secretary@
fmc.gov, or by mail, Federal Maritime
Commission, Washington, DC 20573.
Comments will be most helpful to the
Commission if received within 12 days
of the date this notice appears in the
Federal Register. Copies of agreements
are available through the Commission’s
website (www.fmc.gov) or by contacting
the Office of Agreements at (202)-523–
5793 or tradeanalysis@fmc.gov.
PO 00000
Frm 00054
Fmt 4703
Sfmt 4703
22437
Agreement No.: 011982–004.
Agreement Name: Evergreen Line
Joint Service Agreement.
Parties: Evergreen Marine Corp.
(Taiwan) Ltd.; Evergreen Marine (UK)
Ltd.; Evergreen Marine (Hong Kong)
Ltd.; Italia Marittima S.P.A.; Evergreen
Marine (Singapore) Pte. Ltd.; and
Evergreen Marine (Asia) Pte. Ltd.
Synopsis: The amendment adds a new
party to the Agreement and makes
updates to addresses for existing parties.
Proposed Effective Date: 5/31/2021.
Location: https://www2.fmc.gov/
FMC.Agreements.Web/Public/
AgreementHistory/466.
Dated: April 23, 2021.
Rachel E. Dickon,
Secretary.
[FR Doc. 2021–08838 Filed 4–27–21; 8:45 am]
BILLING CODE 6730–02–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisitions of Shares of a Bank or
Bank Holding Company
The notificants listed below have
applied under the Change in Bank
Control Act (Act) (12 U.S.C. 1817(j)) and
§ 225.41 of the Board’s Regulation Y (12
CFR 225.41) to acquire shares of a bank
or bank holding company. The factors
that are considered in acting on the
applications are set forth in paragraph 7
of the Act (12 U.S.C. 1817(j)(7)).
The public portions of the
applications listed below, as well as
other related filings required by the
Board, if any, are available for
immediate inspection at the Federal
Reserve Bank(s) indicated below and at
the offices of the Board of Governors.
This information may also be obtained
on an expedited basis, upon request, by
contacting the appropriate Federal
Reserve Bank and from the Board’s
Freedom of Information Office at
https://www.federalreserve.gov/foia/
request.htm. Interested persons may
express their views in writing on the
standards enumerated in paragraph 7 of
the Act.
Comments regarding each of these
applications must be received at the
Reserve Bank indicated or the offices of
the Board of Governors, Ann E.
Misback, Secretary of the Board, 20th
Street and Constitution Avenue NW,
Washington, DC 20551–0001, not later
than May 13, 2021.
A. Federal Reserve Bank of Kansas
City (Porcia Block, Vice President) 1
Memorial Drive, Kansas City, Missouri
64198–0001:
1. The Bruce L. Bachman Trust for
Whitney E. Martin, Whitney E. Martin,
E:\FR\FM\28APN1.SGM
28APN1
]]>Agencies
[Federal Register Volume 86, Number 80 (Wednesday, April 28, 2021)]
[Notices]
[Page 22437]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-08838]
=======================================================================
-----------------------------------------------------------------------
FEDERAL MARITIME COMMISSION
Notice of Agreements Filed
The Commission hereby gives notice of the filing of the following
agreements under the Shipping Act of 1984. Interested parties may
submit comments, relevant information, or documents regarding the
agreements to the Secretary by email at [email protected], or by mail,
Federal Maritime Commission, Washington, DC 20573. Comments will be
most helpful to the Commission if received within 12 days of the date
this notice appears in the Federal Register. Copies of agreements are
available through the Commission's website (www.fmc.gov) or by
contacting the Office of Agreements at (202)-523-5793 or
[email protected].
Agreement No.: 011982-004.
Agreement Name: Evergreen Line Joint Service Agreement.
Parties: Evergreen Marine Corp. (Taiwan) Ltd.; Evergreen Marine
(UK) Ltd.; Evergreen Marine (Hong Kong) Ltd.; Italia Marittima S.P.A.;
Evergreen Marine (Singapore) Pte. Ltd.; and Evergreen Marine (Asia)
Pte. Ltd.
Synopsis: The amendment adds a new party to the Agreement and makes
updates to addresses for existing parties.
Proposed Effective Date: 5/31/2021.
Location: https://www2.fmc.gov/FMC.Agreements.Web/Public/AgreementHistory/466.
Dated: April 23, 2021.
Rachel E. Dickon,
Secretary.
[FR Doc. 2021-08838 Filed 4-27-21; 8:45 am]
BILLING CODE 6730-02-P
